O'Reilly Automotive Added To JPMorgan Analyst's 'Focus List'
Among the multiple major players in the auto parts sector, O'Reilly Automotive Inc (NASDAQ: ORLY) stands out to benefit the most from a "weather deep dive" analysis, according to JPMorgan. JPMorgan's Christopher Horvers maintains an Overweight rating on O'Reilly Automotive with a $398 price target and is now included in the firm's "Analyst Focus List." Weather is a key factor in determining auto parts demand in terms of both "in the moment" (i.e., freezing weather prompts battery failure) and a lagged impact (repairs from salt on roads or corrosion), Horvers said in a research report. Based on a geographical exposure, O'Reilly Automotive is best positioned to take advantage of the 2019 "solid but not as good as 2018" snow trends.